Limits the duration of interest accrual on student loans in South Carolina.

This bill amends the South Carolina Code to limit the amount of time that interest may accrue on a student education loan. It specifies that interest can only be charged for a number of years equal to the time the borrower was enrolled in a postsecondary institution, up to a maximum of ten years for a bachelor's degree, ten years for a master's degree, and ten years for a doctorate. This limit applies to private student education loans issued to residents of South Carolina.

Limits the duration of interest accrual on student loans in South Carolina.

This bill amends the South Carolina Code to limit the amount of time that interest may accrue on a student education loan. It specifies that interest can only be charged for a number of years equal to the time the borrower was enrolled in a postsecondary institution, up to a maximum of ten years for a bachelor's degree, ten years for a master's degree, and ten years for a doctorate. This limit applies to private student education loans issued to residents of South Carolina.